The most common reason is comfort. Knowing you will have enough for retirement. Knowing your spouse will be able to live in your home even after you pass.
Your home is your largest investment. I can either be your biggest expense or provide you with great ease.
You can re-finance and stay right where you currently are. Or use a Reverse Mortgage (HECM) to purchase your dream home. Get the right size home for you, in the location you love being.